Wright Investors Service Inc. acquired a new stake in shares of Starbucks Co. (NASDAQ:SBUX) in the second quarter, HoldingsChannel reports. The institutional investor acquired 16,517 shares of the coffee company’s stock, valued at approximately $1,385,000.

Several other large investors also recently made changes to their positions in SBUX. Robeco Institutional Asset Management B.V. grew its stake in shares of Starbucks by 162.1% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 3,327,726 shares of the coffee company’s stock valued at $278,964,000 after acquiring an additional 2,058,082 shares during the period. FMR LLC grew its stake in shares of Starbucks by 19.8% during the 1st quarter. FMR LLC now owns 10,424,208 shares of the coffee company’s stock valued at $774,936,000 after acquiring an additional 1,720,231 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Starbucks by 432.2% during the 1st quarter. Assenagon Asset Management S.A. now owns 901,772 shares of the coffee company’s stock valued at $67,038,000 after acquiring an additional 1,173,260 shares during the period. Teacher Retirement System of Texas grew its stake in shares of Starbucks by 176.4% during the 1st quarter. Teacher Retirement System of Texas now owns 1,350,796 shares of the coffee company’s stock valued at $100,418,000 after acquiring an additional 862,102 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Starbucks by 127.0% during the 1st quarter. SG Americas Securities LLC now owns 182,970 shares of the coffee company’s stock valued at $13,602,000 after acquiring an additional 861,478 shares during the period. Institutional investors own 72.54% of the company’s stock.

In related news, insider Kevin R. Johnson sold 23,390 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $98.32, for a total transaction of $2,299,704.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Jill Walker sold 6,492 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $95.70, for a total value of $621,284.40. The disclosure for this sale can be found here. Insiders have sold a total of 69,801 shares of company stock worth $6,301,684 over the last ninety days. Insiders own 3.98% of the company’s stock.

SBUX has been the subject of a number of recent research reports. Wedbush boosted their price objective on Starbucks from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Evercore ISI initiated coverage on Starbucks in a report on Tuesday, June 11th. They issued an “in-line” rating and a $82.00 price target on the stock. Wells Fargo & Co cut Starbucks from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $83.00 to $80.00 in a report on Friday, April 26th. They noted that the move was a valuation call. Jefferies Financial Group boosted their price target on Starbucks from $96.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, BidaskClub raised Starbucks from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $89.53.

Shares of SBUX traded up $0.46 during mid-day trading on Thursday, hitting $95.38. 2,717,342 shares of the stock were exchanged, compared to its average volume of 7,953,828. The stock has a market cap of $113.61 billion, a P/E ratio of 39.41, a PEG ratio of 2.62 and a beta of 0.55. Starbucks Co. has a 52-week low of $52.30 and a 52-week high of $99.72. The stock has a 50-day simple moving average of $91.38.

Starbucks (NASDAQ:SBUX) last issued its quarterly earnings data on Thursday, July 25th. The coffee company reported $0.78 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The business had revenue of $6.82 billion for the quarter, compared to analysts’ expectations of $6.67 billion. Starbucks had a negative return on equity of 125.91% and a net margin of 13.63%. The company’s revenue for the quarter was up 8.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.62 EPS. Equities analysts anticipate that Starbucks Co. will post 2.82 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Thursday, August 8th will be issued a dividend of $0.36 per share. The ex-dividend date of this dividend is Wednesday, August 7th. This represents a $1.44 annualized dividend and a dividend yield of 1.51%. Starbucks’s dividend payout ratio (DPR) is 59.50%.

About Starbucks

Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates in four segments: Americas; China/Asia Pacific; Europe, Middle East, and Africa; and Channel Development. Its stores offer coffee and tea beverages, roasted whole bean and ground coffees, single-serve and ready-to-drink beverages, iced tea, and food and snacks; and various food products, such as pastries, breakfast sandwiches, and lunch items.

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Institutional Ownership by Quarter for Starbucks (NASDAQ:SBUX)

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